Is titled concern continued oversight on Regional Bank failures. Without objection, all members will have five legislative days to submit extraneous materials to the chair for inclusion in the record. Without objection, the chair is authorized to declare a recess of the committee at any time. With that, i now recognize myself for four minutes. Todays hearing will help the Financial Services committee learn more about recent Bank Failures, including management missteps, supervisory failures, and rapid fire bank runs in the age of social media. I think our witnesses for testifying today. The recent banking crisis was fueled by failed Bank Management, lack of hedges against Interest Rate risks, failed military policy, failed supervision, and overspending by the administration and democrats that led to historic inflation, prompting increased Monetary Policy action. Today, we will hear about what went wrong from the Bank Management themselves in state regulators. This is important, as the c
Welcome to Bloomberg Markets. Before we get to that we have the bank of canada. Guy a bit of a nonevent. 5 matching. Im curious to see what ted macklin has to say though. He cannot make the same mistake he made in january. He cannot say we will pause, i think they will avoid that this time around. It will be interesting to see if the ecb and the bank of england make the same decision. How they are hawkish but keep pausing at the same time. We are near the top of the cycle on Interest Rate. But the sentiment is strong. Alix yields are popping lets get to that with michael mckee. Mike it matches the Third Quarter gdp. Services come in at 54. 5. That is up from 52. 7. New orders rise 50 75 57. 5 from 55. Unemployment rises but it is too late to use that in terms of forecasting the august payrolls but it it was 54. 7. Supplies are easing under the weather a little bit at 48. 5 but 48. 1 was the previous. And prices paid 58. 9 compared to 56. 8. Questions asked about if we see the economy f
Citizen app a little over an hour ago. There appears to be some activity on the lefthand side of your screen behind the gate and the street outside is blocked off. No word yet on if that man may have fired at police nor that persons condition, but we will keep an eye on this developing news and bring you the latest throughout the evening. The bay area desperately needs more housing, but is this busy parking lot the solution and the right place . Sites like these are at the center of a new battle on the peninsula. To address the housing crisis, the state has ordered cities and counties to create a plan to add a certain number of homes or risk losing funding for the entire area. The goal is more than 441,000 new homes. The city of san mateos share of that number is more than 7,000 homes. Some city leaders just submitted their plan for approval, but a new lawsuit claims the numbers just dont add up. Our kevin ko explains perform reporter im at the bridgepoint Shopping Center in san mateo
Went to go and try to deposit the money in the night drop box at 218 in the morning. They had thousands of dollars with them when they were held up at gunpoint. The Contra Costa County fair ended late sunday night, but its what happened in the overnight hours after the fair at this bmo bank, a mile and a half down the road in antioch that is raising eyebrows. Two of our employees possibly were taking a very large cash deposit to a bank not too far away, and were robbed at the bank, not on the fairgrounds. Craig cannon is the president of the Contra Costa County fair board of directors. He was not the one making the day to day operations calls at the fair and is now demanding answers. He says nearly 90,000. The fair money was stolen outside this bank, which is located in a strip mall where stores are boarded up and unhoused individuals are living in the parking lot. Things were not handled the way theyre supposed to be, and were going to work on fixing that. But you never send an unarme
Safety has comes just a day after oakland leaders announced they will sell their share of the coliseum for 105 0 to the African American sports and entertainment group. Mayor tell hopes that site will be used for both Affordable Housing and outdoor space and the mayor says its no question theres costs that need to be cut. But shes vowing not at the expense of Public Safety or public health. My budget will not reduce Public Safety. My budget will not close firehouses or libraries or Recreation Center or animal services. I will not cut cops. I will not lay off our city workers, most of whom are oakland residents. Ryantouted strategies that her administration is already implemented that she says, are proving to be effective. And she says those strategies will continue to be fully funded. Re implementing Crime Reduction programs like ceasefire. Making investments into our 911 infrastructure. Streamlining and expediting. The permit. So that we can expedite construction here in the city of o